Not Hearing Back From Recruiters? We Know Why. TheLadders conducts a study on job-seeker behavior using “eye-tracking” technology to help job seekers close up the job search "black hole.
" Anyone who has ever looked for a job knows the drill: find job online, send resume, wait, and never hear back. If you’re sending out dozens of resumes, like most job seekers do, you’re likely familiar with this broken process -- and frustrated when you don’t get a response. In the careers industry, this broken loop even has a notorious name: “The Black Hole.” Recently, TheLadders conducted a study on job-seeker behavior using “eye-tracking” technology to determine how we could help close The Black Hole while leading job seekers to their perfect job.
LinkedIn is Disrupting the Corporate Recruiting Market. Hiring Is a Dog from Hell. We got Speek off the ground using a hive of moonlighters, freelancers, contractors, interns, sweat-equity employees, and founders.
It was a bear, but it was what we had to do. Once we’d raised a little cash, it became time to establish a full-time team of A players. I just finished the process of building out said team. I hired three web developers, a VoIP engineer, a QA tester, and a UI designer. I probably emailed or talked to no fewer than 1,000 people searching for the top-notch talent that I needed in these roles. As my new team of badasses gets ramped up, I’d like to look back on what worked and what didn’t on my journey to build a world-class team in a competitive market.
What We Looked For Before I started the process of building my pipeline of qualified candidates, I wrote down some general traits that I was looking for. Here is what we came up with: We prefer passionate generalists to deep specialists. How We Found Them I’ll be goddamned if I didn’t try everything under the sun. 1. Secures $15 Million in Series C Funding — Jobvite. Leading Recruitment Technology Innovator Raises Capital to Support Rapid Growth BURLINGAME – May 17, 2011 – Jobvite, creator of next-generation recruiting solutions, today announced it received $15 million in Series C funding led by Trident Capital and joined by previous investors CMEA Capital and ATA Ventures.
The funding will support rapid growth at Jobvite, whose customer base is now 600% the size it was two years ago. Social recruiting applications by Jobvite are now used by over 500 companies, such as Whole Foods Market, Starbucks Coffee Company, Zappos.com, Inc., Yelp and Twitter. Jobvite provides social recruiting technologies on a subscription basis that work across social networks. The company’s enterprise solutions are proven to perform at the scale and with the reliability required by world-class companies.
“The widespread adoption of social media is changing how people find jobs,” said Dan Finnigan, President and Chief Executive Officer, Jobvite. What is the size and value of Global Recruitment Industry? LinkedIn IPO: Witness The Recruiting Machine. Today LinkedIn went public with a huge (somewhat controversial) valuation of 80 times 2011 earnings and and around 21X 2011 expected revenue.
This makes the company worth around $9 billion. The company's total revenues hit $243M in 2010 and are likely to be around $400m in 2011. This is an amazing story of entrepreneurial success and business execution. Most of us think of LinkedIn as a professional social networking service. However the more interesting part of the story for us is the fact that perhaps inadvertently, LinkedIn is becoming one of the most powerful corporate recruiting machines on the planet. The core part of this business is a product called LinkedIn Recruiter - a high-powered search engine that lets corporate recruiters search, find, and contact people throughout the LinkedIn network.
In reading the company's S-1, you also find that LinkedIn now has 4,800 corporate customers. How big is this potential market? Is the stock worth $4.3 billion? Silp joins social recruiting frenzy with ‘passive’ approach — European technology news. 20 Top Tips to Recruit Passive Candidates. Sometimes the best hires aren’t the ones actively looking for a job.
Better known as “passive” candidates, these gainfully employed professionals are reasonably happy, but might be willing to consider a more attractive offer. “Passive candidates are not really as passive as they say they are,” said Steve Guine (@IIT_Inc), National Director of Staffing at IIT. “Like active candidates, they are more than willing to listen. The big difference being, they are more selective.” Finding these potential hires requires recruiters to be more active in their pursuit, but it’s definitely worth the effort – passive candidates comprise 84% of the potential workforce, according to the Department of Labor.
How do you find these passive candidates, approach them, get your company on their radar, and ultimately recruit them? Tip 1: Mine your applicant tracking system (ATS) Ignoring your own ATS has been quite an epidemic in recruiting. Tip 2: Start blogging.